TRU
Business and Economics

Finance Major/Minor

Finance is an interesting and rewarding field but it is also very demanding both academically and professionally. It is divided into two areas—investments and corporate finance.

Investments involves managing the money of high net-worth individuals like successful tech entrepreneurs or athletes; institutions like pension plans, university endowments, and trust funds; or average people who just want to finance their children’s education and save enough to retire early. A financial advisor helps their clients attain their financial goals while minimizing the riskiness of their investment portfolios using different investment strategies like derivatives. Potential investments include GICs, stocks, bonds, asset-backed securities, currency, futures, options, real estate, commodities such as gold, collectibles like hockey cards, private equity, or hedge funds to name a few. Potential employers include banks, wealth management firms, insurance companies, pension funds, private equity firms, hedge funds, and mutual fund companies among others.

Corporate finance focuses on how organizations manage their net working capital and fixed assets and fund them with an optimal mix of debt and equity financing. Net working capital are a firm’s short-term operating assets like cash, accounts receivable, inventory, and accounts payable while fixed assets include land, building, and equipment. Sources of funding include lines of credit, commercial paper, factoring, securitization, term loans, mortgages, bridge loans, mezzanine debt, project financing, bonds, leases, crowdfunding, “love” money, angels, venture capital, initial or seasoned equity offerings, and retained earnings. Possible employers are corporations, not-for-profits, government, or investment banking firms.

Upon graduation, an increasing number of students go on to complete a professional designation such as the Chartered Financial Analyst (CFAlinks to external site) or Certified Financial Planner (CFP)links to external site or one of the many financial training programs offered by the Canadian Securities Institutelinks to external site. Pursuing a graduate degree is also a possibility for those with strong quantitative skills who are considering senior management positions or careers in teaching and research at the college or university level.

For those students wanting only an exposure to finance, a Finance Minor is also available.

CFA Chartered Financial Analyst

SoBE’s BBA Finance Major and Post-Baccalaureate Diploma in Finance have been accepted into the CFA Institute’s University Affiliation Program along with 38 other post-secondary institutions in Canada. This status is granted to universities whose programs incorporate a significant portion of the CFA Program Candidate Body of Knowledge (CBOK) including its Code of Ethics and Standards of Professional Conduct. Being affiliated demonstrates to students and potential employers that the program’s curriculum is closely tied to the investment management profession and will help students prepare for the CFA Program exams.

Undergraduate and graduate course transfer credit will also be awarded to students who have already completed Levels I, II, or III of the CFA program.

CFA® is a registered trademark owned by the CFA Institute.

 Learning objectives

Upon completion of this program, students will be able to:

  1. Describe the role and operation of the financial markets and institutions that make up the domestic and global financial systems and how they are regulated.
  2. Value the different types of equity, fixed income and derivative securities.
  3. Analyze the different types of financial risk that are experienced by a global organization and how they can be effectively hedged.
  4. Manage a global organization's operating and fixed assets effectively and fund those assets with an optimal mix of debt and equity financing.
  5. Apply financial principles in a professional capacity.
CFP track
  1. Incorporate the taxation of employment, business, and property income including capital gains in business decision-making.
  2. Advise clients on the effective use of credit and the different personal lending vehicles available.
  3. Recommend actions to help clients meet their educational savings, retirement savings, insurance and estate planning needs.
  4. Design an investment portfolio for an individual or institution that allows them to attain their financial objectives.
CFA track
  1. Evaluate the performance of an organization using a variety of financial statement analysis tools.
  2. Value a business and recommend how to potentially restructure its operations through merger, divestiture, liquidation or reoanization.
  3. Design an investment portfolio for an individual or institution that allows them to attain their financial objectives.
  4. Discuss the asset/liability strategies employed by different financial institutions and the methods used to measure and control risk.
Commercial lending track
  1. Evaluate the performance of an organization using a variety of financial statement analysis tools.
  2. Incorporate the taxation of employment, business, and property income including capital gains in business decision-making.
  3. Determine the short-term and long-term debt financing needs of an organization, design and price appropriate commercial loans, and monitor the lending agreement.
  4. Value a business and recommend how to potentially restructure its operations through merger, divestiture, liquidation or reorganization.
 Major requirements
FNCE 3150 Portfolio and Equity Analysis
FNCE 3170 Fixed Income and Alternative investments
FNCE 3180 Derivative Securities
FNCE 4130 Advanced Financial Management
FNCE 4180 International Financial Management
Plus at least three of:
FNCE 3140 Financial Statement Analysis
ACCT 3260 Taxation for Decision-Making
FNCE 4120 Business Valuation and Restructuring
FNCE 4140 Personal Financial Management
FNCE 4160 Advanced Portfolio Management
FNCE 4190 Financial Institutions Management
ECON 4330 Forecasting in Business and Economics

CFP TrackACCT 3260, FNCE 4140, FNCE 4160
CFA TrackFNCE 3140, FNCE 4120, FNCE 4160, FNCE 4190
Commercial Banking TrackFNCE 3140, ACCT 3260, FNCE 4120 (ECON 4330 recommended)

 Minor requirements
FNCE 3150 Porfolio and Equity Analysis
Plus at least three of:
FNCE 3140 Financial Statement Analysis
FNCE 3170 Fixed income and Alternative Investments
FNCE 3180 Derivative Securities
ACCT 3260 Taxation for Decision-Making
FNCE 4120 Business Valuation and Restructuring
FNCE 4130 Advanced Financial Management
FNCE 4140 Personal Financial Management
FNCE 4160 Advanced Portfolio Management
FNCE 4180 International Financial Management
FNCE 4190 Financial Institutions Management
ECON 4330 Forecasting in Business and Economics